About ModelRisk
ModelRisk is a risk analysis software from Vose Software that helps users make better risk-based decisions using Monte Carlo simulation. It provides an add-in for Excel, along with a trial download and quick start videos, so users can easily integrate risk analysis into their existing workflows. By using the capable features of ModelRisk, users can improve their risk assessment capabilities, assess uncertainties, and improve decision-making processes. The software is particularly useful for those transitioning from @RISK, offering comprehensive support and resources. Key capabilities: model building simulation risk assessment project management educational resources Best for: analysts and decision-makers that need effective risk analysis integrated into Excel.
ModelRisk by Vose Software is a heavyweight Monte Carlo risk-analysis and decision-support tool aimed at risk managers, modelers, and analysts across finance, insurance, energy, project finance and consulting. Its primary purpose is to let practitioners build transparent probabilistic models, run large-scale simulations, and produce robust sensitivity, contribution-to-risk and scenario analyses that support capital allocation, pricing and strategic decisions. The user interface centers on an Excel-friendly modelling paradigm: a dedicated, well-documented add-in and standalone workbook environment that lets experienced spreadsheet users define distributions, correlations, and custom functions without abandoning familiar workflows. While novices may need an initial orientation, the interface is designed to make model structure visible and traceable, with clear dialogs for distribution selection, sampling options and report configuration. Functionality is rich — native support for dozens of probability distributions, correlation matrices, Latin Hypercube sampling, variance reduction techniques, headroom and shortfall metrics, automated sensitivity and tornado analysis, bootstrap and scenario engines, and outputs formatted for reporting and regulatory review. Distinctive features include precise distribution-fitting tools, strong diagnostic plots, and model-auditing facilities that reduce the black-box feel of many stochastic engines.
Pros & Cons
- +It is the fastest simulator with three times the functionality of its nearest competitor.
- +ModelRisk offers significant value for money, providing savings of around 50% versus comparable products.
- +The software is easiest to use due to being 100% compliant with all Excel calculation rules.
- +It incorporates virtually every probability distribution and has a history of innovation since 2009.
- +The tool includes specialized functionality for insurance, engineering, and portfolio optimization.
- −As an add-in, it requires the user to have an existing Microsoft Excel license to function.
- −The maximum listed price is a competitive €1450 per user per year, structured as an annual fee.
- −It requires replacing existing values with complex quantitative probability distribution functions.
- −Its primary focus is on Monte Carlo simulation, not on general-purpose predictive modeling.
- −A base Excel model must be built by the user before ModelRisk can begin analyzing the risk.
Features
Key features
- Full Microsoft Excel Integration
- It is the only risk analysis add-in that is 100% compliant with Excel calculation rules, ensuring seamless and intuitive model building.
- Superior Simulation Performance
- ModelRisk is described as the fastest simulator in Excel, offering three times the functionality of its nearest competitor.
- Comprehensive Distribution Library
- It incorporates virtually every probability distribution used across various fields, including many specialized ones for complex modeling.
- Model Converters
- It provides specific tools to easily convert and use models originally built in competing software like @RISK or Crystal Ball.
- Specialized Industry Tools
- The software includes unique, powerful functions like a portfolio optimization tool and specialized calculations for the insurance industry.
- Intuitive Design and Support
- It helps users build error-free models intuitively with built-in error checking, many visual interfaces, and a comprehensive integrated help file.
Additional features
- Monte Carlo Simulation
- Automatically generates thousands of possible scenarios after replacing uncertain values with probability distribution functions.
- Full Excel Integration
- Provides complete, 100% compliant integration with Microsoft Excel for building risk models.
- Error Checking
- Includes built-in error checking on all functions to help users construct error-free models.
- Visual Interfaces
- Features many visual user interfaces to simplify the model-building process.
- Integrated Help
- Offers a comprehensive integrated help file that includes example models and instructional videos.
- Template Reports
- Generates template reports to display results in a variety of graphical and statistical formats.
- Fastest Simulator
- Recognized as the fastest simulation tool available that operates within Excel.
- Extensive Functionality
- Delivers three times the functionality of its nearest competitor, simplifying and speeding up models.
- Broad Distribution Library
- Incorporates virtually every probability distribution function used in any technical field.
- Industry-Specific Tools
- Contains specialized functions for reliability engineering, portfolio investment risk, and insurance risk modelling.
- Portfolio Optimization
- Includes a dedicated tool for calculating the best mix of securities to manage investment risk.
- Model Fitting Tools
- Allows insurance users to make maximal use of the available data they have.
- Competitor Converters
- Provides converters for importing models that were previously built using @RISK or Crystal Ball.
- Decision Comparison
- Uses simulation techniques to compare different decision options for selecting the most likely to succeed.
Pricing
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About ModelRisk
ModelRisk is a risk analysis software from Vose Software that helps users make better risk-based decisions using Monte Carlo simulation. It provides an add-in for Excel, along with a trial download and quick start videos, so users can easily integrate risk analysis into their existing workflows. By using the capable features of ModelRisk, users can improve their risk assessment capabilities, assess uncertainties, and improve decision-making processes. The software is particularly useful for those transitioning from @RISK, offering comprehensive support and resources. Key capabilities: model building simulation risk assessment project management educational resources Best for: analysts and decision-makers that need effective risk analysis integrated into Excel.
ModelRisk Details
ModelRisk's In-App Market Place
Does ModelRisk have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
AUD ($), CAD ($), CHF (CHF), DKK (DKK), EUR (€), GBP (£), JPY (¥), NOK (NOK), USD ($)
Pros & Cons
- It is the fastest simulator with three times the functionality of its nearest competitor.
- ModelRisk offers significant value for money, providing savings of around 50% versus comparable products.
- The software is easiest to use due to being 100% compliant with all Excel calculation rules.
- It incorporates virtually every probability distribution and has a history of innovation since 2009.
- The tool includes specialized functionality for insurance, engineering, and portfolio optimization.
- As an add-in, it requires the user to have an existing Microsoft Excel license to function.
- The maximum listed price is a competitive €1450 per user per year, structured as an annual fee.
- It requires replacing existing values with complex quantitative probability distribution functions.
- Its primary focus is on Monte Carlo simulation, not on general-purpose predictive modeling.
- A base Excel model must be built by the user before ModelRisk can begin analyzing the risk.
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